what is the difference between credit and debit note?
Answer Posted / pascal mefinya
Debit note is sent by the supplier to customer to adjust
(increase the value)of undercharged invoice
Credit note is sent by the supplier to customer to adjust
(Decrease the value) of overcharges invoice
so both document are issued by the supplier to either
reduce or increase the value of the invoice
Debit note will be sent if for example the supplier
underpriced goods
Credit note will be sent if the Customer returned goods or
if the quality of goods is substandard and the supplier
want to encourage the buyer keep the Goods nonobstand the
quality by reducing the price
Is This Answer Correct ? | 0 Yes | 0 No |
Post New Answer View All Answers
What does stand for EPD,MIS? Can anyone tell me briefly n clearly about this?
From the following find out a. Profit Volume ratio b. Break even point c. Sales for 40% P/V Ratio d. Margin of safety from the sales Rs 3,00,000 e. Net profit from the sales of Rs 3,00,000 f. Required sales for the new profit of Rs 70,000 g. Required sales for the net profit of Rs 70,,000 after tax, the corporate income tax being 40% h. Additional sales required to convert an increase of Rs 3000 p.a. in the sales manager salary Sale 2,00,000 Variable Overheads 1,50,000 Profit 50000 Fixed overheads 15000 Net profit 35000 Sl No Heads of Account Debit Rs Credit Rs 1 Drawing and Capital 750 15,000 2 Stock as on 01.01.2009 69720 3 Bills Receivable and bills payable 1000 1180 4 Returns 300 320 5 Purchases and Sales 4500 8300 6 Wages 70 7 Discount 30 8 Salaries 200 9 Canara Bank Shares 3000 10 Insurance 120 11 Building 3000 12 Furniture 700 13 Debtors and Creditors 600 1300 14 Cash in Hand 470 15 Overdraft at bank 900
Short Answer on -----Trade mark
Can v transfer trail balance to journal entry how and with example?
what is cost centre , job costing & Budget control. what is the effect of these.Explain its briefly.
What Is Depreciation, and from which date do we charge Depreciation for an asset ?
how do you prepare the mis reports and prepare the one example report stating your accounts department proforma
how will you create the posting periods 3 and 5 or 5and 7?
give me only one transactions in both side (debit&credit) should be in real accounts
EXPAND_________SDJMC
Expand---------PED
sir,how to get strong position in finance .how to get good position in company. qulification.Msc,MBA
Expand---------TDCB
In Oracle Applications will Translation will create any journal entry then what is the journal entry what are the accounts affected
Expand-------MTRS